August magazine

COVER STORY

7 WAYS TO MAKE MONEY ONLINE

The internet - we use it to “google”, catch up on the latest news and weather, pay the bills, shop, communicate….the list is endless. It also provides many ways of making some very good money. Some of the strategies have the potential to make you rich, provide a regular income and even see you giving up your day job. Others will help generate a bit of extra cash here and there to boost the family budget. Money takes a look at 7 ways to make money online which includes blogging, writing and selling an e-book, starting an online business, selling things online, entering online competitions, creating a successful app and participating in online surveys.

MATCHING THE MIX

Smaller may be better at some time in your life

Story Maria Bekiaris

So the kids have finally left home and you’re considering downsizing? The notion is becoming increasingly popular with baby boomers - so much so, it’s expected to peak in the next five years. There are of course benefits to downsizing, including lower maintenance costs and savings on gas and electricity bills. But before you make the leap, there are a few things you should consider as the initial costs can be high. What sort of selling fees are involved? How much stamp duty and capital gains tax will you be up for? Do you need to budget for new furniture that will fit in your new, smaller abode? Money gives you a run down on the costs you need to factor in before making the next big lifestyle and financial decision of your life.

IN YOUR INTEREST

Paul Clitheroe is suspicious about who really wins from balance transfer cards.

Story Paul Clitheroe

Paul thinks that balance transfer credit cards have got to be a monster business. The number of advertisements flogging this concept is just amazing. “While I don’t have any numbers to back it up, it seems pretty obvious me that institutions are not going to spend bucket loads of cash on advertising if no one is taking up the offer”, says Paul. Who is the winner here?

Kristen’s aim is to buy a second property

Story Paul Clitheroe

Kristen is 27 years old and earns $65,000. In 2009 she bought her first investment property for $258,000 with no deposit, taking out a loan for $265,000. The property is valued at around $290,000 and is negatively geared. Her loan is sitting at $257,000 with an interest rate of 6.05% set up in an offset account. She would like to start saving towards another property. Should Kristen’s savings be kept in a separate account or in my offset account to reduce interest on my loan? Paul delivers his verdict.

Affordable property

Story Pam Walkley

Although Australian property prices are high by international standards, there are still affordable options for both home owners and investors. You could find yourself a property for less than $300,000 in regional areas and below $400,000 in suburban area, it’s just a matter of knowing where these gems are located. House prices have dropped by a national average of about 7% over the past 18 months, Brisbane scoring the largest fall of 12% and Sydney the lowest of 5%. Money reveals ten affordable suburbs in each capital city that are well worth keeping an eye on.

Susan Hely explains how to stay cosy at home

Story Susan Hely

We’ve all heard about rising energy bills, switching energy providers, yadda yadda yadda…..but what other options do we have to keep the power bills down? Have you considered putting a coating on your windows or replacing them with an energy efficient alternative such as double-glazed windows? With technological improvements to windows over the years, they can now insulate against heat and cold up to four times more effectively than conventional windows. So is it really worth it? Those living in colder climates such as Victoria, Canberra and southern NSW could benefit from a $300 a year savings with the right windows. Money goes ‘window’ shopping.

To avoid bad financial advice you need to do your own due diligence

Story Kate Leaver

Bad financial advice. You’ve probably heard the horror stories through friends, family or even worse, experienced it first-hand. Nobody wants to see their hard earned cash tied up in bad investments just to fund your adviser’s lifestyle and retirement. So learn to protect yourself and get to know the warning signs. Money outlines five traits in an adviser you need to be on the lookout for and what to do when the alarm bells go off.

How to get your bond back

Story Anne Lampe

It’s the moment all reasonable tenants dread. You’ve just moved out of a rental property and the real estate agent won’t refund your $1000 bond. The agent claims the property needs repairing plus there was the problem of rent felling behind a few weeks – even though the shortfall was remedied a few weeks later. What are your rights as a vacating tenant and what is the best course of action? Money explains where to go from here and things you need to be aware of as a vacating tenant.

Hang in there: think long term

Story Ross Greenwood

“Remember the philosophy. Stay true to the course”, says Ross. Though investment markets have been shocking in the past few months, those with a determined long-term viewpoint will maintain their core values and remind themselves of the fundamentals that drive the world. Money regular, Ross Greenwood urges investors to be patient and ignore the waves of hope and fear.

Interview with Layne Beachley

Story Deborah Light

Of all the challenges Layne Beachley has faced and conquered, perhaps the one she never expected to knock her sideways was retirement. Like many athletes, her best earning years were behind her at a comparatively early age – in Beachley’s case, 38. That wasn’t it. Australia’s greatest women’s surfer, holding seven world titles, had developed an early acumen for property investment which meant she didn’t have to worry – and doesn’t still. Deborah Light talks Layne.

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